In the wake of a Trump Presidency, the Fed is expected to hike interest rate as early as Dec 2016, when the Fed next meets on December 13 – 14.Fed chair Janet Yellen to congress Joint Economic Committee: ‘Such a move could become appropriate relatively soon.’

The Fed last increased rates by 0.25 percentage points in December 2015, though it was projected that there could have been as many as four rate increases over the course of 2015.

Futures markets escalated rapidly, days after Trump clinched the US Presidency:

The bond markets have turned around in the last ten days. The yield on 10-year US treasury bonds reached 2.33 percent on 20th Nov. its highest level for the year.

Stock markets have hit record or near-record highs on the back of expectations that tax cuts, with a reduction in the corporate tax rate from 35 to 15 percent factored in, and a winding back of business regulations, will boost bottom line.

The dollar index climbed to a 13-year high at one point after recording 10 straight days of gains.

Emerging markets suffered a knock on effect with major stock markets having one of their worst openings to a year on record.

It is unclear yet what kind of impact a rate rise will have, but the past weeks have witnessed major falls in the currencies of emerging market economies and in their stock markets.

Bloomberg reported that emerging market bond markets are poised for their biggest losses since the so-called ‘taper tantrum’ of 2013 which saw a rush for the exits after Fed chairman Ben Bernanke had indicated the central bank would ease back on its purchases of bonds.

In short it may spell trouble for the global economy. Emerging markets previously enjoying dollar liquidity as investors searched for yield in an environment of near-zero and even negative interest rates, may be deprived of easy access to US dollar, owing to shortage, as interest rates and bond yields start to rise.

Amongst 5 Singapore companies that made the Estates Gazette Global’s top 100 real estate owners, Temasek has overtaken GIC to take the top spot.

Singapore Top 5 Property Firm In Capital Assets

Temasek Holdings - US$39.9 billion

CapitaLand - US$33.3 billion.

GIC - US$22.4 billion.

Global Logistics Properties - US$16.7 billion.

City Developments Limited - US$14.9 billion.

Their combined total asset value adds up to US$127.2 billion.

Temasek is an investment firm owned by the state. It holds stakes in regional and local real estate corporations like CapitaLand, Mapletree, Pulau Indah Ventures and M+S .

The Estates Gazette’s top 100 companies is a compilation of investors from all over the world based on real assets and not on debt and securities. $12.4bn is the minimum value of total assets required to feature in the top 100 which owned a total of $3.6 trillion of property, with a $400 billion increase over last year’s figures.

Top 3 spot on the Global 100:

Canada-based Brookfield Asset Management took top spot with almost $130bn of assets.

Blackstone is No. 2 with $94bn.

TIAA-CREF climbs two places to take third with $89bn.

Quick Read:

This year, four Japan-based real estate companies, with $137bn of assets, made it onto the list

6 spots at the top of the list that are held by North American-headquartered firms

Founded in 1981, Singapore's sovereign wealth fund, GIC is an early investor in private equity and property. According to Goh Kok Huat, president of real estate at GIC, the fund is underinvested in real estate.

Real estate currently makes up 7 per cent of its asset mix. It plans to raise this proportion to 9 to 13 per cent by looking at big transactions in deep and liquid markets in key gateway cities. Emerging markets will also be important for its long-term strategy, despite its short-term geopolitical risks.

GIC will also continue to partner global players, including private equity firms and other sovereign wealth funds, on bigger deals as competition for global assets heats up.

Low interest rates worldwide have made investing in the area ‘tougher and tougher’. Returns from investing in real estate are likely to be low in such an environment and prices are high in some top-tier global cities, such as London, Singapore and Hong Kong.

"It's always hard to say whether we are in bubble territory, but they are certainly aggressive," Goh said.

On world markets Goh said:

Japanese real estate is attractive because of its strong tourism industry.

India is a tough market but for investors who get in, there are "supernormal" profits to be made.

Australia and New Zealand will continue to be key markets given their liquidity and depth.

Europe will remain a tough market because of high prices and weak fundamentals.

The U.S. market is recovering well and with its deep, transparent markets, it cannot be ignored.

In addition to its China’s portfolio, GIC owns almost 5% of the Hong Kong-traded shares of China Vanke Co., bought a building next to Tokyo Station last year and purchased Blackstone Group LP's 50% stake in London's Broadgate office complex in 2013.

Last year, GIC sealed a deal to buy office space in New York City's Time Warner Center with two partners, the Abu Dhabi Investment Authority and US real estate firm Related Companies, for US$1.3 billion.

Early this year, GIC teamed up with Global Logistic Properties to buy Blackstone Group's IndCor Properties Inc, one of the largest logistics platforms in the US, for US$8.1 billion.

In May 2015, it paired up with Canada Pension Plan Investment Board to buy the D-Cube Retail Mall in Seoul for US$263 million.

In September, GIC purchased a S$421.4 million stake in two housing projects in central Delhi in September.

One month later, GIC and Tishman Speyer said they would form a joint venture for Tishman Speyer's Waverock office development project in Hyderabad.

GIC doesn't disclose the size of its assets under management, but London-based Sovereign Wealth Center puts its total holdings at US$343 billion, making it the world's sixth-biggest sovereign wealth fund.